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DOGE's recent trend is quite interesting. The price has already broken below the key levels of EMA(7) and EMA(25) (around 0.139). Both moving averages are starting to bend downward, and a short-term death cross is already quite evident.
From the indicators, RSI(6) has dropped to a low of 39.56, and the MACD green histogram is shrinking, showing negative values (-0.00044). In simple terms, the bullish momentum has been completely exhausted, and the bears are now starting to take over. The daily candles are continuously bearish, with lows constantly moving lower. This kind of structural breakdown is a classic trend reversal signal.
If you want to participate in a shorting opportunity:
• Entry range: 0.1369 – 0.1396 is more appropriate
• Stop loss set at 0.1425
• First target at 0.1285, second target at 0.1160
The bearish momentum will likely continue, and the current rebound is just a pressure test. Don't be misled.